SoftBank Calls Off Asset Reshuffle

SoftBank halted plans to shuffle its Japanese assets, canceling a move that would have resulted in an extra ¥450 billion ($4.4 billion) in the Internet and telecom firm's war chest for acquisitions.

Japan representatives said the company changed its mind after studying the challenges in operating its own network and setting pricing plans. Now all the parties say the deal has been scrapped.

Some investors said they were troubled by corporate-governance issues in the now-abandoned deal. SoftBank was an early investor in Yahoo of the US and retains a small stake in the US firm, which in turn owns 35.5% of Yahoo Japan. In Japan, SoftBank operates one of the big three mobile-phone carriers and owns eAccess, the No. 4 player that specializes in data plans.